Kiva.org is a cool Micro-finance site that is taking advantage of the social networking going on around the web. You add value to your account and then lend it out. Micro-finance companies around the world they have partnered with, like PEMCI, provide people who are looking for loans, bios, and updates on their businesses. You don’t earn interest on the loans as that is given to the people doing the Micro-finance work. You do get updates, once a quarter?, on repayments and what the people are doing with the money. Feel good and interesting also. I am lending to a lebanese grocery store and kenyan barber at the moment. Check the loans out at my lending page.
Here is the letter I just got from Kenya, I assume Margaret works for PEMCI as an agent servicing the loan for Paul. The personal aspect is what makes this interesting.
Dear Aaron Oliver,
This is an update written by Margaret Karuri on:
- Barber shop and Salon, run by Paul Wanyonyi Kisuya
Paul is a happy man accessing loans from KIVA through PEMCI. With his
first loan of about USD 150, he was able to improve on his barber shop
and successfully completing his loan. With his second loan of about USD
300, Paul has gone ahead to create a job for his jobless wife; he has
bought her two hair drier which is the major equipment for setting up
the salon. With a good repayment record, he hopes to get another loan
as soon as he finishes to enable him develop the salon further. He
thanks the lenders through kiva who have facilitated easily accessible
loan.







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